The global spa services market is predicted to thrive over the forecast period of 2022 to 2032 by reaching a valuation of US$ 140.28 Billion while exhibiting a robust CAGR of 10% over this duration. Valued at US$ 105.18 Billion in 2022, the spa services market is pushed by swift changes in consumer preferences. The availability of a wide range of therapies such as cryotherapy, hydrotherapy, LED therapy, and sound therapy among others further supplements the spa services market.
With rapid urbanization, peoples’ choice of lifestyle and habits are also changing. Owing to a fast-paced lifestyle and hectic schedules, overall health of the population at large is deteriorating. Rushed lifestyle, extensive travel, and frenzied schedules often lead to muscle cramps and body aches. Hence, a major chunk of the population is inclined towards receiving spa services as it rejuvenates the body.
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In addition to this, due to prevailing trends and social media influences, there’s an incredible emphasis on staying fit and groomed. The rising beauty standards among young adults and working professionals is also contributing to the market prospects of spa services during 2022 to 2032.
Again, the growing geriatric population often complains of body-related distresses such as back pain, neck pain, headaches, digestive disorders and other body aches. Thus the elderly often access spa service packages that offer comforting treatments, pain management, internal body healing and anti-healing. This factor is likely to push the sales of spa services over the projected period of 2022 to 2032.
Key Takeaways:
- Surging demand for relaxation, wellness and meditation activities to boost market potentials.
- High operational cost and low market penetration in developing countries may hinder the market growth.
- North America is predicted to offer plenty of lucrative opportunities over the forecast period.
- Asia Pacific is projected as a highly profitable emerging market for spa services.
- Spa services market in Europe is likely to register 19% CAGR through 2032.
- By product type, hotel/ resort spa services is likely to generate substantial revenue.
- On the basis of end-user, women are expected to lead the market.
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Key Players
- Hyatt Hotels Corporation
- Mazkara.com
- Four Seasons Hotel Limited
- Marriott International, Inc.
- Hilton Hotels & Resorts
- OneSpaWorld Holdings Limited
- Siam Wellness Group
- InterContinental Hotels Group plc
- Massage Envy
- Kempinski Hotels S.A.
- Brenners Park-Hotel & Spa
- Others
Global Spa Services Market by Category
By Product Type:
- Day Spa
- Resort/Hotel
- Medical Spa
- Thermal/Mineral Springs Spas
- Others
By Service Type:
- Massage
- Beauty/Grooming
- Physical Fitness
- Others
By End User:
- Men
- Women
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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